Stock transfer between accounts

milester2
milester2 Quicken Windows Subscription Member
edited November 15 in Product Enhancements

I take my MDR from my IRA as a transfer of stock from the IRA to a brokerage account. There is no sale of stock, just a transfer. I have to enter the transaction in Quicken as a sell in the IRA, withdrawal of cash, deposit of that cash in the brokerage account and the record a buy for the same number of shares. Can we simplify this?

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  • Rocket J Squirrel
    Rocket J Squirrel Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited November 15

    You have to do it that way to establish the stock's new cost basis in the taxable account. Quicken does have a "Shares Transferred Between Accounts" action, but that would not set the new basis and would not cause Quicken to note this as a taxable event.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

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